Analysts predict that First Commonwealth Financial (NYSE:FCF) will announce earnings of $0.27 per share for the current quarter, according to Zacks. Four analysts have made estimates for First Commonwealth Financial’s earnings. The highest EPS estimate is $0.28 and the lowest is $0.26. First Commonwealth Financial posted earnings per share of $0.21 in the same quarter last year, which indicates a positive year-over-year growth rate of 28.6%. The business is scheduled to announce its next earnings results on Tuesday, January 22nd.
According to Zacks, analysts expect that First Commonwealth Financial will report full year earnings of $1.03 per share for the current year, with EPS estimates ranging from $1.01 to $1.07. For the next financial year, analysts expect that the business will report earnings of $1.10 per share, with EPS estimates ranging from $1.08 to $1.15. Zacks’ EPS calculations are an average based on a survey of research analysts that follow First Commonwealth Financial.
First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, October 23rd. The bank reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). The business had revenue of $83.57 million for the quarter, compared to the consensus estimate of $84.76 million. First Commonwealth Financial had a net margin of 22.65% and a return on equity of 11.00%. During the same period in the prior year, the business posted $0.22 EPS.
In related news, Director Ray T. Charley bought 4,000 shares of the business’s stock in a transaction on Monday, October 29th. The stock was acquired at an average price of $12.90 per share, with a total value of $51,600.00. Following the transaction, the director now owns 280,041 shares in the company, valued at approximately $3,612,528.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.42% of the company’s stock.
A number of large investors have recently bought and sold shares of FCF. BlackRock Inc. grew its position in First Commonwealth Financial by 8.7% in the 2nd quarter. BlackRock Inc. now owns 14,063,205 shares of the bank’s stock worth $218,121,000 after purchasing an additional 1,121,525 shares during the period. WBI Investments Inc. bought a new stake in First Commonwealth Financial in the 2nd quarter worth approximately $4,271,000. WESPAC Advisors LLC bought a new stake in First Commonwealth Financial in the 3rd quarter worth approximately $2,419,000. Renaissance Technologies LLC grew its position in First Commonwealth Financial by 12.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,315,400 shares of the bank’s stock worth $20,402,000 after purchasing an additional 147,400 shares during the period. Finally, Victory Capital Management Inc. grew its position in First Commonwealth Financial by 4.3% in the 2nd quarter. Victory Capital Management Inc. now owns 1,819,460 shares of the bank’s stock worth $28,221,000 after purchasing an additional 75,120 shares during the period. 68.68% of the stock is owned by institutional investors and hedge funds.
Shares of FCF opened at $13.99 on Tuesday. The company has a market cap of $1.36 billion, a P/E ratio of 17.06, a PEG ratio of 1.64 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.19. First Commonwealth Financial has a twelve month low of $12.01 and a twelve month high of $17.91.
First Commonwealth Financial announced that its board has approved a share repurchase program on Tuesday, October 23rd that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the bank to buy up to 1.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Thursday, November 1st. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 43.90%.
About First Commonwealth Financial
First Commonwealth Financial Corporation, through its subsidiary First Commonwealth Bank, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, IRA accounts, and automated teller machine (ATM) services, as well as Internet, mobile, and telephone banking services.
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